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Questions and Answers
What is a strategy according to the text?
What is a strategy according to the text?
- A description of the organization's history
- A detailed plan for day-to-day operations
- A set of decisions about business activities and markets (correct)
- A list of short-term goals for the organization
What does the organizational plan resulting from the planning process detail?
What does the organizational plan resulting from the planning process detail?
- The goals to be attained (correct)
- The day-to-day operational tasks
- The financial projections for the next year
- The historical performance of the organization
What is the first stage of the planning process?
What is the first stage of the planning process?
- Setting short-term goals
- Analyzing the competition
- Determining the organization's mission and goals (correct)
- Reviewing the organization's financial statements
What does the direction component of a strategy refer to?
What does the direction component of a strategy refer to?
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What does the advantage component of a strategy focus on?
What does the advantage component of a strategy focus on?
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